Detailed Single Year Tables

Description of Proposed Provision:
Increase the normal retirement age (NRA) 3 months per year starting for those age 62 in 2017 until the NRA reaches 70 in 2032. Thereafter, index the NRA to maintain a constant ratio of expected retirement years (life expectancy at NRA) to potential work years (NRA minus 20). We assume the NRA will increase 1 month every 2 years. Also, increase the earliest eligibility age (EEA) from 62 to 64 at the same time the NRA increases from 67 to 69; that is, for those attaining age 62 in 2021 through 2028. Keep EEA at 64 thereafter.

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Financial Estimates for the OASDI Trust Fund Program

&nbsp

&nbsp

Proposal

&nbsp

Change from Present Law

&nbsp

Expressed as a percentage of present-law taxable payroll

Trust fund ratio as of January 1

Expressed as a percentage ofpresent-law taxable payroll

Calendaryear

Costrate

Incomerate

Annualbalance

Costrate

Incomerate

Annualbalance

2012

13.83

12.89

-0.93

340

0.00

0.00

0.00

2013

13.95

12.83

-1.12

329

0.00

0.00

0.00

2014

13.98

12.93

-1.05

315

0.00

0.00

0.00

2015

13.97

12.95

-1.01

302

0.00

0.00

0.00

2016

13.94

12.98

-0.96

290

0.00

0.00

0.00

2017

13.89

13.01

-0.88

278

-0.02

0.00

0.03

2018

13.91

13.04

-0.87

267

-0.05

0.00

0.05

2019

14.06

13.05

-1.00

255

-0.08

0.00

0.08

2020

14.27

13.08

-1.19

243

-0.10

0.00

0.11

2021

14.52

13.11

-1.41

231

-0.13

0.00

0.14

2022

14.81

13.13

-1.68

217

-0.16

0.00

0.17

2023

15.09

13.15

-1.94

203

-0.20

0.00

0.20

2024

15.36

13.17

-2.20

189

-0.23

0.00

0.23

2025

15.61

13.18

-2.43

173

-0.27

0.00

0.27

2026

15.81

13.20

-2.61

158

-0.34

0.01

0.35

2027

15.99

13.22

-2.77

143

-0.42

0.01

0.43

2028

16.12

13.23

-2.88

127

-0.52

0.01

0.53

2029

16.22

13.25

-2.97

110

-0.62

0.01

0.62

2030

16.29

13.26

-3.03

93

-0.72

0.01

0.73

2031

16.31

13.26

-3.05

76

-0.84

0.00

0.84

2032

16.30

13.26

-3.04

59

-0.95

0.00

0.95

2033

16.28

13.27

-3.01

41

-1.05

-0.01

1.05

2034

16.23

13.27

-2.97

24

-1.15

-0.01

1.14

2035

16.17

13.26

-2.91

6

-1.23

-0.01

1.22

2036

16.10

13.26

-2.84

----

-1.32

-0.02

1.30

2037

16.04

13.26

-2.77

----

-1.40

-0.02

1.37

2038

15.96

13.26

-2.70

----

-1.46

-0.03

1.44

2039

15.87

13.25

-2.62

----

-1.52

-0.03

1.49

2040

15.79

13.25

-2.54

----

-1.57

-0.03

1.54

2041

15.72

13.25

-2.47

----

-1.60

-0.03

1.57

2042

15.64

13.24

-2.40

----

-1.64

-0.03

1.60

2043

15.57

13.24

-2.33

----

-1.67

-0.04

1.64

2044

15.50

13.24

-2.26

----

-1.71

-0.04

1.67

2045

15.44

13.24

-2.20

----

-1.75

-0.04

1.71

2046

15.38

13.23

-2.15

----

-1.78

-0.04

1.74

2047

15.32

13.23

-2.09

----

-1.82

-0.04

1.77

2048

15.26

13.23

-2.03

----

-1.85

-0.05

1.81

2049

15.20

13.23

-1.97

----

-1.89

-0.05

1.85

2050

15.14

13.23

-1.92

----

-1.94

-0.05

1.89

2051

15.09

13.22

-1.86

----

-1.98

-0.05

1.93

2052

15.04

13.22

-1.82

----

-2.03

-0.05

1.97

2053

15.01

13.22

-1.79

----

-2.06

-0.05

2.01

2054

14.98

13.22

-1.76

----

-2.10

-0.05

2.04

2055

14.97

13.22

-1.75

----

-2.12

-0.06

2.07

2056

14.96

13.22

-1.74

----

-2.15

-0.06

2.09

2057

14.95

13.22

-1.73

----

-2.17

-0.06

2.11

2058

14.95

13.22

-1.73

----

-2.19

-0.06

2.13

2059

14.94

13.22

-1.72

----

-2.21

-0.06

2.15

2060

14.92

13.22

-1.70

----

-2.23

-0.06

2.17

2061

14.91

13.22

-1.69

----

-2.25

-0.07

2.19

2062

14.89

13.22

-1.67

----

-2.28

-0.07

2.21

2063

14.88

13.22

-1.66

----

-2.30

-0.07

2.23

2064

14.86

13.22

-1.64

----

-2.33

-0.07

2.26

2065

14.85

13.22

-1.63

----

-2.35

-0.07

2.28

2066

14.83

13.22

-1.62

----

-2.39

-0.07

2.31

2067

14.82

13.22

-1.61

----

-2.42

-0.07

2.34

2068

14.82

13.22

-1.60

----

-2.44

-0.07

2.37

2069

14.82

13.22

-1.61

----

-2.47

-0.08

2.39

2070

14.83

13.22

-1.61

----

-2.50

-0.08

2.42

2071

14.83

13.22

-1.61

----

-2.52

-0.08

2.44

2072

14.83

13.22

-1.61

----

-2.55

-0.08

2.47

2073

14.83

13.22

-1.61

----

-2.57

-0.08

2.49

2074

14.83

13.22

-1.61

----

-2.60

-0.08

2.52

2075

14.83

13.22

-1.61

----

-2.63

-0.08

2.55

2076

14.84

13.22

-1.61

----

-2.65

-0.08

2.57

2077

14.83

13.22

-1.61

----

-2.68

-0.09

2.59

2078

14.83

13.22

-1.60

----

-2.71

-0.09

2.62

2079

14.82

13.22

-1.60

----

-2.75

-0.09

2.66

2080

14.82

13.23

-1.59

----

-2.79

-0.09

2.70

2081

14.82

13.23

-1.59

----

-2.82

-0.09

2.73

2082

14.83

13.23

-1.60

----

-2.85

-0.09

2.76

2083

14.84

13.23

-1.60

----

-2.88

-0.09

2.79

2084

14.84

13.23

-1.61

----

-2.91

-0.09

2.82

2085

14.85

13.23

-1.62

----

-2.94

-0.09

2.85

2086

14.86

13.24

-1.63

----

-2.97

-0.09

2.87

2087

14.87

13.24

-1.64

----

-3.00

-0.10

2.90

&nbsp

Summarized Estimates

&nbsp

&nbsp

Proposal

&nbsp

Change from Present Law

Years

Costrate

Incomerate

Actuarialbalance

Year of reserve depletion1

Costrate

Incomerate

Actuarialbalance

Based on Intermediate Assumptions of the 2012 Trustees Report.

2012-2086

15.25%

13.99%

-1.27%

2035

-1.43%

-0.03%

1.40%

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1 Under present law, the year of Trust
Fund reserve depletion is 2033.